The Monitor 100 is always our most highly anticipated issue. And this year, there is even more to enjoy. In addition to our extensive ranking and dimensioning charts, this issue features exclusive profiles of the companies and executives that make this industry so vibrant.
With the help of Monitor Editorial Board members Bill Verhelle, Vincent Belcastro and David Wiener, we offer a sneak peek in to the strategies of equipment finance’s key players as well as a deep dive into the industry’s remarkable renaissance since the Great Recession. And that’s just the beginning! With additional features — plus our regular columns — we are proud to present the best Monitor 100 yet!
The Top 10
Monitor 100 profiles
This year marks the 30th anniversary since Tim Berners-Lee invented the World Wide Web. It is challenging to fully understand the impact of how this has changed our lives. This one simple idea has transformed industries and given birth to companies like Amazon, Uber, and Netflix. However, when first conceived, there were many that questioned its use and others that said it could not be done.
By DAN MICHALEK
2019 marks the tenth year I have contributed to the Monitor 100 publication. Indulge me, if you will, by allowing me to look back over the past decade to reminisce over what I have written about for the past ten Monitor 100 issues, taking another look at the road we traveled together.
By DEXTER VAN DANGO
Wells Fargo Equipment Finance reported $16.1 billion in 2018 new business volume — just enough to steal the crown from Banc of America Leasing in the volume ranking. However, Wells Fargo’s hold on the volume title may be short lived. With leads of only $152.6 million over Banc of America and $236.2 million over John Deere, it could be anybody’s game next year. In the asset ranking, Banc of America tightened its hold of the top notch, expanding its lead to $4.9 billion, up 81.4% from its $2.7 billion lead last year.
By RITA GARWOOD
Appearing in the Monitor 100 ranking is an achievement, but only the most successful companies in the industry make it to the top of the list. Guest Editor Bill Verhelle sat down with the leaders of six top companies to discuss the strategies they use to maintain dominance in such a complex and competitive marketplace.
By BILL VERHELLE
The 2019 Monitor 100 showcases the leading equipment leasing and finance companies reflecting their fiscal year end 2018 data. The leasing industry has enjoyed a remarkable renaissance since the Great Recession of 2008.The 28th annual list of Monitor 100 companies reported $514.1 billion in net assets, $201.1 billion in originations and 28,666 employees.
By DAVID WIENER
In 2014, East West Bank launched its Equipment Finance division and hired industry veteran Jule Kreyling to take the helm. Now, only five years later, East West has made it onto the Monitor 100 at a respectable 76. Monitor’s senior editor, Nadine Bonner, sat down with Jule and asked him, “how did they do it?”
Five years from launch and more than $280 million funded assets later, Chris Chiappetta and the First Midwest Bank Equipment Finance team continue to develop on the strong foundation of National Machine Tool Financial Corporation, a business he founded more than 20 years earlier. To learn more about their strategy and growth, Monitor editorial board member and managing director, Santander CEF, Vince Belcastro interviewed Chiappetta.
New name, same game, as a highly experienced leadership team of equipment finance veterans with a proven track record looks to set new tracks towards success. To learn more about their strategy and growth, Monitor editorial board member and managing director, Santander CEF, Vince Belcastro interviewed Fred Van Etten, president.
In an interview with Nadine Bonner, Monitor’s senior editor, Jody Green confesses that he’s been president of Commerce Bank Equipment Finance for “about a minute,” before this interview! Which is almost true. Green was promoted to the top spot in January 2019 following the retirement of 25-year veteran Roger May.
People’s United Bank has been expanding its reach in the equipment finance area. To learn about the strategy behind the bank’s recent acquisitions and its future goals, Monitor editorial board member and chief marketing officer at Leaf Commercial Capital, Michelle Speranza, interviewed Michael Maiorino.
Relationships are the cornerstone of any business transaction, and broker/lender interactions are no different. Steve Geller outlines some of the basic due diligence and research brokers can perform to ensure their lender relationships are successful and long-lasting for both them and any potential borrowers.
By STEVE GELLER
Have you ever been asked the question “why do I need you” by your banking colleagues? It’s an indicator of how young the equipment finance line of business is in many regional banks. It also serves as a reminder that it is part of our job as good sales people to explain our value, not just to prospects and customers, but to our own teammates on the banking side.
By KENNETH GATES
With all the hype about blockchain revolutionizing the way business gets done globally, have you ever stopped to think about whether the equipment leasing and finance industry is ready to dive into this potentially disruptive technology?
By VALERIE L. GERARD
The decision, In re Republic Airways Holdings Inc., 2019 WL 630336, was issued February 14, 2019. But it was not a Valentine to the equipment finance world — more like a skunk at a garden party. This article will describe the business and legal background of the case, and discuss why the decision was flawed.
By STEPHEN T. WHELAN
Short on time? The editors of Monitor collected the most striking data points presented in the MONITOR 100 issue and condensed them into an infographic